English, Article edition: Game Theory and Institutions Bernard WALLISER

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Physical Description
  • article
Language
  • English

Edition details

Title
  • Game Theory and Institutions
Author
  • Bernard WALLISER
Physical Description
  • article
Notes
  • The genesis of institutions can be treated by game theory, which is expressed at a sufficiently general level, considers direct relations among agents not mediated by former institutions and respects a sophisticated methodological individualism. In that framework, if interested not in the voluntary design of an institution but in the spontaneous arise of an institution, the last will be considered as an emergent structure of the game and practically as an equilibrium state of the game. Hence, the genesis of an institution parallels the genesis of an equilibrium, either by an educative process where the agents are able to induce it from their sole reasoning, or by an evolutionist process where it results from a learning mechanism foIIowed by the agents.
  • RePEc:cpo:journl:y:2003:i:44:p:165-179
Language
  • English
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